Current Conditions for the Insurance Industry

Olympics A Go for IOC; Cancellation Would Have Long-Lasting Insurance Impact

The International Olympic Committee expects the Olympic Games in Tokyo to proceed even as Japan deals with another wave of coronavirus infections.

But with a growing chorus of voices in Japan calling for another postponement or even a cancellation, the specter of long-lasting impact from the Games on the insurance industry still looms.

U.S. Insurers Boost Stakes In COVID-19 Vaccine Makers In 2020

As a number of pharmaceutical companies rushed to create COVID-19 vaccines in 2020, U.S. insurers added to their equity investments in those companies.

Texas Sees Significant Homeowners Rate Hikes In April

The top two most-impactful homeowners insurance rate increases approved in April were both in Texas.

Insurers That Spent the Most on Advertising In 2020

The COVID-19 pandemic forced many advertisers to do more with less. But insurance giant The Progressive Corp. opted to do more with more.

Big Insurance Broker Merger, Related Deals In Jeopardy as DOJ Intervenes

The U.S. Justice Department's move to block Aon PLC's planned merger with Willis Towers Watson PLC stands to have wide-ranging implications for many players in the insurance brokerage industry.

Global Atlantic Surges Up '20 Reinsurer Rankings; Munich Re Extends Lead

Private equity-backed Global Atlantic Financial Group Ltd. recorded a massive gain in reinsurance premiums while the 10 biggest global reinsurers were mostly unchanged in 2020, according to an S&P Global Market Intelligence analysis.

Insurers Facing Prospect of Another 'Above-Average' Atlantic Hurricane Season

Insurers with exposure in coastal states may be facing another year of elevated claims from tropical systems as the National Oceanic and Atmospheric Administration's Climate Prediction Center expects a busy 2021 Atlantic hurricane season.

Reinsurance Plays Key Role as P&C Insurers Deal With Texas Freeze In Q1

Insurers and reinsurers sustained significant insured losses in the first quarter, mainly driven by winter weather in February that paralyzed parts of the southern U.S., particularly Texas.

How Prolonged Low Interest Rates Could Affect U.S. Life Insurers

The dramatic decline of the 10-year U.S. Treasury yield to historic lows in 2020 raised concerns in the life insurance industry about the increased likelihood of lower-for-longer interest rates and companies' value propositions.

Q1 Data Show Signs of Pandemic-Era Peak In U.S. Life Industry Death Benefits

Death benefits paid by U.S. life insurers surged to a new high on an absolute basis in the first quarter as a resurgence of COVID-19 contributed to adverse mortality for several leading carriers.

Despite Pandemic, Life Insurance Premiums Edge Down YOY in FY'20

The COVID-19 pandemic did not seem to prod consumers to buy more life insurance, as the industry recorded $186.16 billion in total life premiums written in the U.S. in 2020, a 0.8% decrease from the previous year.

Berkshire, Travelers Hike Commercial Auto Rates in April

A single rate increase of 3.1% secured by a subsidiary of The Progressive Corp. may be the most impactful of any commercial auto rate hike approved in April, as it stands to boost the group's written premiums by $7.4 million.

As Autonomous Cars Hit the Road, Insurers Must Navigate Complicated Future

With the prospect of car navigation shifting in the coming years from total driver control to full machine guidance, auto insurance underwriting looks likely to become more complex as well.

Allstate's Stock Mostly Flat Amid SafeAuto Deal; Big Broker Merger Partners Dip

A relatively quiet, holiday-shortened week saw several deals announced in the insurance industry and mixed results for its stocks.

Actuary Says NY Livery Insurer's Reserves 'Inadequate' by More Than $500M

The author of an actuarial report on one New York-based commercial auto insurer concluded that the company's provision for reserves to cover unpaid losses and loss adjustments falls more than $500 million short of what he would consider a reasonable level.

Several U.S. Insurers Begin to Dabble with Cryptocurrency Investments In Q1

Six insurers in the first quarter picked up shares of digital currency investment vehicles offered by Grayscale Investments, LLC

Investors Flocking to APAC Insurtechs With Hybrid Distribution, B2B Models

Asia-Pacific's private insurance technology landscape may be dotted with several unconventional startups seeking to unseat incumbents, but venture capitalists will gravitate toward less disruptive and more collaborative technology startups.

Insurance Trade Group Sues Wash. Regulator Over Credit Score Ban

The American Property Casualty Insurance Association has filed a lawsuit against the Washington state insurance regulator after he issued an administrative ban on insurance companies using credit scores to underwrite policies.

The office of Commissioner Mike Kreidler defended the action as a means to protect insurance consumers from a practice it called "inherently unfair." Kreidler has repeatedly backed proposals to do away with the use of credit scores as a rating factor when determining the relative risk of current or prospective policyholders and how much insurers should charge for coverage.